Macklem: Inflation is on a higher path than we expected

<ul><li>Demand pressures have eased more quickly than we forecast in July</li><li>Overall inflation risks have increased since July</li><li>We held policy rate steady because we want to allow mon pol time to cool economy</li><li>Worried higher energy prices and persistence in underly inflation are slowing progress</li><li>We've made a lot of progress but we're not there yet</li><li>We now expect oil prices to remain higher than we assumed in July</li></ul><p>His opening statement is on the hawkish side but USD/CAD is unmoved.</p>

This article was written by Adam Button at www.forexlive.com.